Which of the following statements concerning contribution margin income statements is TRUE?

ANSWER

Unselected

On a contribution margin income statement, variable costs will include both product and period costs.

Unselected

On a contribution margin income statement, variable costs will include only period costs.

Unselected

On a contribution margin income statement, variable costs will include only product costs.

Unselected

On a contribution margin income statement, fixed costs will include only period costs.